Residential Real Estate Administrative Agency Criminal Law

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Lenity, Chevron Deference And Consumer Protection Laws

Several federal statutes, including the Real Estate Settlement Procedures Act (“RESPA”), the Truth in Lending Act (“TILA”) and the Servicemembers Civil Relief Act (“SCRA”) permit the government to seek either civil or...more

FinCEN: Accountant and Elder Abuse

We have been keeping track of FinCEN's SAR Activity Review – Trends, Tips & Issues virtually from its inception. In its just issued May 2013 report, FinCEN provides new information regarding two areas of importance: 1)...more

DOJ Touts Active Enforcement of the False Claims Act in FY 2012

In a briefing earlier this week, Acting Associate Attorney General Tony West proudly reported that in FY 2012 the Department of Justice (DOJ) set a new single year record of nearly $5 billion in settlements and judgments...more

Infobytes - A Weekly In-depth review of news & developments in the financial services industry - November 16, 2012

In This Issue: - FEDERAL ISSUES - COURTS - FIRM NEWS - FIRM PUBLICATIONS - MORTGAGES - BANKING - CONSUMER FINANCE - SECURITIES - E-COMMERCE - CRIMINAL ENFORCEMENT - Excerpt from FEDERAL...more

Infobytes - A Weekly In-depth review of news & developments in the financial services industry - October 26, 2012

In This Issue: - FEDERAL ISSUES - STATE ISSUES - COURTS - FIRM NEWS - FIRM PUBLICATIONS - MORTGAGES - BANKING - CONSUMER FINANCE - SECURITIES - INSURANCE - PRIVACY/DATA SECURITY - CRIMINAL...more

DOJ Announces Results of Year-Long Mortgage Fraud Initiative

On October 9, the DOJ, HUD, the FTC, and the FBI announced the results of the Distressed Homeowner Initiative, a year-long national effort to coordinate federal and state investigation and prosecution of alleged mortgage...more

FinCEN Publishes Mortgage Fraud Update and SAR Activity Review, Updates Electronic Filing Specifications

This week FinCEN published a new SAR Activity Review and a Mortgage Loan Fraud Update. This issue of the semiannual SAR Activity Review provides (i) the results of a survey of readers of the Trends, Tips & Issues and By the...more

Infobytes - A Weekly In-depth review of news & developments in the financial services industry - October 12 2012

Topics In This Issue: - MORTGAGES - BANKING - CONSUMER FINANCE - CREDIT CARDS - CRIMINAL ENFORCEMENT - FEDERAL ISSUES - Excerpt From Federal Issues: FTC Settles Charges Related to Sale...more

Importance of Anti-Money Laundering Controls

If businesses needed any evidence of the importance of having adequate anti-money laundering controls in place, perhaps the possibility of a $1 billion fine that could be imposed by U.S. regulatory authorities on a financial...more

Spotlight on Anti-Money Laundering (Part 2 of 3): Establishing an AML Compliance Program at a Non-Bank Residential Mortgage...

As reported in Part 1 of this series, all non-bank residential mortgage lenders and originators (RMLOs) have until August 13, 2012 to establish an Anti-Money Laundering (AML) program as part of the new rule....more

Spotlight on Anti-Money Laundering (Part 1): New Regulatory Path Ahead for Non-Bank Residential Mortgage Lenders and Originators

Ongoing concern among regulators, law enforcement, and Congress over abusive and fraudulent sales and financing practices in both the primary and secondary residential mortgage markets prompted the Financial Crimes...more

DOJ’s Response to Grassley Gives Details, but Not the Right Details

The Justice Department showed off some fancy dance moves in a recent sidestep it used to respond to an inquiry from Senator Chuck Grassley (R-Iowa). Grassley wanted detail from Justice to support its claims that it has...more

Sentencing Panel Amends Guidelines for Mortgage Fraud

Responding to a requirement in the Dodd-Frank Act that it review, and if appropriate, amend, the federal sentencing guidelines for mortgage fraud, the U.S. Sentencing Commission set forth on April 13, 2012, two new provisions...more

FinCEN Reports Increased Mortgage Fraud SARs

On April 23, the Financial Crimes Enforcement Network (FinCEN) released an update on mortgage loan fraud suspicious activity reports (SARs) for 2011. The report indicates that mortgage fraud SARs increased 31 percent in 2011...more

Mortgage Fraud Suspicious Activity Reports Up 31 Percent in 2011

The Financial Crimes Enforcement Network (“FinCEN”), a bureau of the U.S. Department of the Treasury, released its full-year 2011 update of mortgage loan fraud suspicious activity reports (MLF SARs) on April 23rd, 2012. The...more

Grassley’s Case Against DOJ Stance on Financial Fraud Is Vastly Overstated

In recent weeks, Sen. Charles Grassley (R-Iowa) has criticized the Department of Justice’s handling of executives that some argue are responsible for the financial crisis. Sen. Grassley, the ranking minority member of...more

InfoBytes, March 30, 2012 - A Weekly In-depth review of news & developments in the financial services industry.

Topics In This Issue Share the Latest Financial Services News - Sign Up is Easy!; Federal Issues; State Issues;; Courts; Miscellany; Firm News; Mortgages; Banking; Litigation; Privacy/Data Security; Criminal...more

InfoBytes, March 16, 2012 - A Weekly In-depth review of news & developments in the financial services industry.

Topics In This Issue: Federal Issues; State Issues; Courts; Firm News; Mortgages; Banking; Consumer Finance; E-Commerce; and, Criminal Enforcement. ...more

InfoBytes, March 9, 2012 - A Weekly In-depth review of news & developments in the financial services industry.

Topics In This Issue • Federal Issues • State Issues • Courts • Firm News • Mortgages • Banking • Consumer Finance • Litigation • Criminal Enforcement Excerpt From Federal...more

DOJ Goes After Smaller Fraudsters, Lets Big Fish Escape

Successful criminal prosecutions of mortgage fraud seem to have one thing in common: a fraud figure well below $10 million. One of the recent cases that generated a fair amount of press involved the convictions of...more

U.S. Treasury Extends Bank Secrecy Act Requirements to Non-Bank Mortgage Lenders and Originators

The U. S. Treasury’s Financial Crimes Enforcement Network (“FinCEN”) has issued final regulations imposing on non-bank residential mortgage lenders and originators (“RMLOs”) the anti-money...more

InfoBytes, February 13, 2012 - A Weekly In-depth review of news & developments in the financial services industry.

Topics In This Issue Federal Issues State Issues Courts Firm News Firm Publications Mortgages Banking Consumer...more

InfoBytes Special Alert - February 8, 2012

On February 7, the Financial Crimes Enforcement Network (FinCEN) released a final rule that subjects nonbank residential mortgage lenders and originators to certain anti-money laundering (AML) regulations already...more

Justice Department Establishes Residential Mortgage-Backed Securities Working Group

At a press conference on January 27, 2012, Attorney General Eric Holder, accompanied by the SEC Director of Enforcement, the Secretary for the Department of Housing and Urban Development, the Assistant Attorney General for...more

Got Pot? The Feds Try to Make Mortgagee Banks Liable Under the Crack House Statute

Banks holding mortgages now have one more thing to worry about: potential criminal and civil liability and forfeiture under the federal “crack-house” statute. Sound crazy? Read on, because late last year the four U.S....more

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